17988. Merchants Bank (Enid, OK)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 25, 1894
Location
Enid, Oklahoma (36.396, -97.878)

Metadata

Model
gpt-5-mini
Short Digest
7d45343a

Response Measures

None

Description

Articles report the Merchants' Bank of Enid failed to open on April 25, 1894; cashier (Charles Bright / Chas. Wright in one OCR) fled by train and a receiver (I. G. Conkling) was appointed. This indicates a suspension followed by receivership/closure rather than a mere run. OCR shows variant spellings of the cashier's surname (Bright/Wright); I preserved Merchants' Bank as in the sources.

Events (3)
1. April 25, 1894 Other
Newspaper Excerpt
A crowd congregated and organized a posse of about fifty men, and made a race for North Enid to catch the train before it went south. When they arrived the train had gone with the cashier, Charles Bright. Warrants were sworn out against Charles Bright, cashier of the looted Merchants' bank.
Source
newspapers
2. April 25, 1894 Receivership
Newspaper Excerpt
I. G. Conkling of this place, was appointed receiver, and the affairs of the bank are now in his hands.
Source
newspapers
3. April 25, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier fled with funds (described as looted bank); failure to open and deficiency of about $20,000 discovered, indicating internal malfeasance/insolvency.
Newspaper Excerpt
The Merchants' bank of this place had removed to North Enid, and would not open up in the morning. A rush was made for the bank, but it was closed.
Source
newspapers

Newspaper Articles (5)
1. April 25, 1894 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, April 25, 1894

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Article Text

THAT BANK FAILURE. Merchants' Bank of Enid Fails to Open -Officials in Hiding. ENID, Ok., April 25.-A sensation was created here yesterday by the announcement that the Merchants' bank of this place had removed to North Enid, and would not open up in the morning. A rush was made for the bank, but it was closed. A crowd congregated and organized a posse of about fifty men, and made a race for North Enid to catch the train before it went south. When they arrived the train had gone with the cashier, Charles Bright. The failure is for about $20,000, and the merchants are principally the losers. The depositors made threats on the president, Edward L. Dunn of El Reno, but nothing has been done. I. G. Conkling of this place, was appointed receiver, and the affairs of the bank are now in his hands. Warrants were sworn out against Charles Bright, cashier of the looted Merchant's bank.

2. April 26, 1894 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, April 26, 1894

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Article Text

Bank Failure at Enid. ENID, O. T., April 24 -The Merchant's bank of this place did not open this morning and all kinds of exciting stories were set afloat. A rush was made for the bank, but it was barred. About 500 men made for North Enid to eatch the train. When they arrived the train had gone with Cashier Chas. Wright. The failure is for about $20,000. I. G. Conkling was appointed receiver this morning.

3. April 27, 1894 The Kinsley Graphic Kinsley, KS
Article from The Kinsley Graphic, April 27, 1894

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Article Text

REMOVED THE BANK. Depositors Made an Effort to Defeat the Scheme, but Were Too Late. ENID, Ok., April 25.-A sensation was created here Monday by the announcement that the Merchants' bank of this place had removed to North Enid, and would not open up in the morning. A rush was made for the bank, but it was closed. A crowd congregated and organized a posse of about fifty men, and made a race for North Enid to catch the train before it went south. When they arrived the train had gone with the cashier, Charles Bright. The failure is for about $20,000 and the merchants are principally the losers. The depositors made threats on the president, Edward L. Dunn, of El Reno, but nothing has been done. I. G. Conkling, of this plage, was appointed receiver early this morning, and the affairs of the bank are now in his hands. Warrants were sworn out last night against Charles Bright, cashier of the looted Merchants' bank. It is believed that Bright is hiding in North Enid. Ed L. Dunn, president of the bank, came up from El Reno last night, but it is reported he will stay in North Enid. There are rumors that warrants will be issued againstevery official connected with the bank.

4. April 28, 1894 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, April 28, 1894

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Article Text

OKLAHOMA BANK FAILURE. Merchants' Bank of Enid Falls to Open -Officials in Hiding. ENID. Ok., April 25.-A sensation was created here yesterday by the announcement that the Merchants' bank of this place had removed to North Enid, and would not open up in the morning. A rush was made for the bank. but it was clo ed. A crowd congregated and organized a posse of about fifty men, and made a race for North Enid to catch the train before it went south. When they arrived the train had gone with the cashier, Charles Bright. The failure is for about $20,000, and the merchants are principally the losers. The depositors made threats on the president, Edward L. Dunn of El Reno, but nothing has been done. 1. G. Conkling of this place, was appointed receiver, and the affairs of the bank are now in his hands. Warrants were sworn out against Charles Bright. cashier of the looted Merchant's bank.

5. May 5, 1894 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, May 5, 1894

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Article Text

COMMERCE AND FINANCE. Money is apparently increasing and reports are current of loans on first-class collateral made at 3@3½ per cent. It is claimed Boston [and New York are offering call money on bonds at 2 per cent. New York Exchange is steady at 30c premium. Foreign exchange is dull. According to Bradstreet's trade is decreasing in the large cities. Labor disturbances are assigned as the principal cause. Outside winter wheat markets lagged, St. Louis getting 5c behind Chicago. Surplus money is pressing on the market and call rates are demoralized, New York exchange was quoted at 40c premium. The Merchants' bank of Enid, O. T., failed, with liabilities of $20,000. Depositors pursued the cashier, but he escaped on a train. An issue of $1,000,000 West Chicago Cable stock is said to be contemplated to install the trolley system on crosstown lines.